Havertys Q1 Sales Fall

Posted on April 9, 2014 by HFN Staff

ATLANTA-Havertys' first-quarter sales fell 2.5 percent to $181.4 million, according to a preliminary report from the home furnishings retailer.

Same-store sales in the quarter, which ended on March 31, were down 0.9 percent. Clarence Smith, Havertys' chairman, president and CEO, said the results came off last year's first quarter, in which same-store sales rose 11.5 percent. Smith added that the severe winter weather did not affect 30 of its more southern locations, in which same-store sales rose 7.3 percent in the quarter.

"Our written business for the first quarter was better than our delivered sales," Smith said, "due in part to the continued growth of our custom order upholstery and in-home design sales." He also said Havertys has not changed its promotional stance and that gross margin should be in line with its expectations.